Libs Call For Loans For Women
Sydney Morning Herald
Saturday March 5, 1988
The State Opposition will announce next week a plan for the State Bank to give special consideration to loan applications from divorced, separated or widowed women.
The Opposition spokeswoman on women's interests, Mrs Virginia Chadwick, said the proposal was aimed at helping women at a time when they were most in need.
She said it was hoped the bank would set a lead for its private-sector counterparts by making available low-cost bridging finance or long-term loans to women who had lost their marriage or de facto partners.
"It seems to me that at times like that, the State Bank should take a lead in giving special consideration to women who may be financially very good risks, but because of their vulnerability at that particular time they might not appear to be," she said.
She said that often these women were simply waiting for settlement payments, which would significantly strengthen their financial standing.
"Even if women are in the lucky position of having a little bit of money of their own, they will largely think of going into rented accommodation which is just eating up their capital. But if they were sympathetically considered for a loan, they might not have to do that," she said.
"The nature of their trauma should be taken into account - that is, that they might not have the job or the deposit at this instant."
She said, though, that financial institutions should not be irresponsible when lending.
© 1988 Sydney Morning Herald
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